As bankers' skepticism about blockchain deepens, crypto firms should demonstrate how the technology can help financial companies, such as by extending access to the underbanked, says Hinkes, a prominent advocate of blockchain.

'There is no division in our industry,' BofA's Moynihan says; why CFPB's payday revamp is an even bigger deal than you think; Morgan Stanley's new data strategy for higher-quality AI; and more from this week's most-read stories.

While many financial institutions are feeling competitive pressures from fintechs, a former Mastercard and Fiserv senior executive called on credit unions to collaborate with fintechs as a way to keep their tech-savviest members.

Facebook Inc. housed dozens of cybercriminal groups that set up shop on the platform as online marketplaces to sell a variety of illegal services, such as stolen credit card information, account theft and spamming tools, a team of researchers found.

The number of IoT devices is growing quickly, but not all are properly connected to security systems, according to Pip Courcoux, sales and product manager for CLIQ Systems at Abloy UK.

Community banks are relying more on analytics, incentives and business partnerships in hopes of stemming an outflow of deposit relationships.

To generate revenue, SoLo Funds depends on consumers willing to front funds through its platform.

The CEO of the nation's largest bank urged policymakers to ease capital rules for banks and tackle inefficiencies in the housing markets, while offering bold ideas of his own on education and health care.

Sweden-based Klarna is replacing the in-house customer authentication process it developed for its buy-now, pay-later online checkout option with a new approach to streamline merchant integration.

Shamir Karkal’s startup, Sila, is launching an API platform that gives developers a way to connect traditional bank systems to distributed ledgers like Ethereum.

When cutting through the noise generated by the highs and lows of cryptocurrency value, the underlying blockchain technology is poised to keep advancing toward mainstream payments.

System breaches similar to events at Equifax and Marriott could just as easily happen to credit unions, leading Mastercard and the credit union service organization, PSCU, to take protective measures.

The Silicon Valley-based fintech, which recently announced a new partnership with Walmart, plans to add hundreds of new workers this year.

With many consumers now using online and mobile banking, there is a huge opportunity to incorporate blockchain solutions into the everyday payments experience, writes Andre Stoorvogel, director of product marketing for Rambus Payments.

Community banks are open to working with innovative financial startups, but regulators must ensure they face the same oversight standards as traditional banks.

Existing bank systems are holding issuers back from responding fast enough to changing market conditions, contends Mikko Rieger, senior vice president of consumer management services for Nets.

Banks of all sizes need to stick together to ward off threats from "unregulated" fintechs and other nonbanks, Bank of America Chairman and CEO Brian Moynihan said Tuesday.

Some contracts are not "adequately" defining which party — the bank or the vendor — is responsible for managing risks, the agency said.

Walmart customers will soon be able to shop for groceries online using Google hardware, giving the retailer an established market for voice ordering — that is still a distant second to Amazon's Alexa user base.

PayPal has joined a funding round for startup Cambridge Blockchain, reportedly the first investment the online payments giant has made in distributed ledger technology.